Audu Ogbeh, minister of agriculture and natural resources, says the federal government will place a final ban on the importation of tomato paste before the end of 2019.Speaking in Kano during a tour of the Dangote Tomato Processing Plant in Kadawa, Kano state, Ogbeh said the ban will encourage massive tomato production.According to Ogbeh, the federal government has set aside [...]
The Bureau of Public Enterprises (BPE) says the federal government should consider listing Aluminium Smelting Company of Nigeria (ALSCON) as a strategic industry so it can get gas at a concessionary price.According to a statement released by the bureau, DHL/RUSAL, ALSCON's core investor, had listed the issue of gas price and supply as one that requires urgent resolution after signing [...]
Ahmed Kuru, the managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), was among the 16 persons who won the Businessday excellence in public service awards. Others who received the award alongside the AMCON CEO include; Mary Uduk, acting director-general, Securities and Exchange Commission (SEC); Usman Mohammed, managing director/CEO, Transmission Company of Nigeria (TCN); Ahmed Bobboi, executive secretary, Petroleum Equalisation Fund (PEP); Yusuf [...]
The Central Bank of Nigeria (CBN) says there is no room for racketeering or arbitrage in the nation's forex scheme.The apex bank made this statement in reaction to a news report that claimed that some people pocket about N32 billion annually from the N306/$ exchange rate regime.In a statement signed by Isaac Okorafor, director of the corporate communications department at [...]
Udoma Udo, the minister of budget and national planning, says the Nigerian economy will grow by 3.01 percent in 2019 -- at variance with the World Bank's forecast of 2.2 percent in the same year.Udoma who was speaking at the Deloitte Dialogue on Nigeria's Economic Outlook for 2019, in Lagos, said the proposed 2019 budget is intended to further reposition the [...]
Lava, an Indian phone maker, has launched its products in Nigeria saying it is targeting both low and high-income earners.Speaking at the launch, Sushil Segal, country head for Lava, said the company is targeting emerging markets hence, the reason it launched in Africa two years and now trading in Egypt, Sudan, Ghana and Kenya.Rohit Singh, the company's executive director, business [...]
Nigeria’s foreign commercial assets are at risk as a British company moves to enforce a $9bn arbitration award against the country over a breach of contract, TheCable can report.Process and Industrial Developments Limited (P&ID), an engineering and project management company, is expected to get a final order from English courts on February 15, 2019 to enforce the arbitration tribunal award [...]
Anthony Joshua, world heavyweight boxing champion, has been unveiled as a brand ambassador of telecommunications giant, Globacom.Joshua, who was born by Nigerian parents, was unveiled when the telco presented its new business direction to media executives in Lagos on Friday.Speaking at the event, Bisi Koleoso, deputy chief operating officer of the company, said the previous year ended on a high note for Globacom [...]
Asset Management Corporation of Nigeria (AMCON) says Nigerian Braiding Manufacturers Limited (NBML), a Kano state-based textile company, NBML, will continue operations despite its N1 billion debt. The company was recently taken over by AMCON, as a result of the Company’s Non-Performing Loans purchased from the Banks by the government agency. The textile company’s indebtedness to the Corporation currently stands at over N1 [...]
21st Century Technologies Limited has obtained a Tier IV certification from Uptime Institute, the first time for any telecommunications company in Africa.With this certification, 21st Century will construct a digital economy data centre in Nigeria.In 2018, 21st Century Technologies, which is led by Wale Ajisebutu (pictured), achieved the multi-tier cloud security standard.At that time, the company described the standard as [...]
